Quote from: Entropy-uc on January 02, 2014, 04:41:33 PM

Quote from: VinceSamios on January 02, 2014, 03:48:46 PM

FYI - there is a limit on the number of shareholders in a private company under which they would have a lot of freedoms.

I believe it is currently still a limit of 500 shareholders however legislation is in process to increase that to over 1000 through the "Jumpstart Our Business Startups Act" which has been approved but will be added to the JOBS Act and therefore requires another vote and presidential signature (I'm not sure if this has happened yet)

The latest list of ActiveMining investors shows 323 people (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-12-07-01:40.txt) although we need to take into consideration that a lot of people tendered shares prior to this.

Searching for a pre-bitfunder shutdown list (http://bitfunder.firstitinc.com/asset-list/assetlist-2013-11-01-23-50.txt.bz2) shows 768 investors. We can guestimate this is higher as not all BTCT.co investors would have moved across prior to this. (if I understand correctly)

It might have been recommended, possibly even by the SEC, for Ken to delay listing the shares until the amendment to the JOBS Act has been passed (it may already have been, I haven't bothered googling it).

Get your facts straight. Ken has illegally issued shares.

1. SEC doesn't care where you are, if you sell shares to US persons you follow their rules or face prosecution. If you live in Shenzen province you might get a pass, but that isn't going to help you or Ken.
2. To legally sell securities publicly, ALL investors must be accredited and you must have proof of their status.
3. You must file a schedule D with the SEC
4. Timing: the government moves slow. I expect prosecution will happen after the SEC gains a conviction against Trendon Shavers. If you haven't found a new bag holder for this disaster by the spring, expect to be trapped in it until all legal proceedings end.

Technically you are wrong on all counts...